THE CONDO BOOK PROJECT

564 Willoughby Avenue Condominium

564 Willoughby Avenue, Brooklyn, NY 11206

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Overview

Units
4 residential
Subway
5 min walk to Myrtle-Willoughby Avs GFlushing Av G, 11 min
Principals
Phillip Miller
Average $/sf
$851Homes in Schedule A, as first offered
Common charges
$529–$1,062 a monthSponsor's first-year estimate in Schedule A, January 1, 2025 - December 31, 2025
Offering price
$3.4 million total $3.15 million when first offered

The sponsor of record is 564 Willoughby Realty LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 354 pages. The sponsor has filed 1 amendment, the latest in July 2024. The nearest other condo plan on file is 568 Willoughby Avenue Condominium, next door.

Plan CD240067 · Rehab · accepted Jul 15, 2024 · AG record ↗

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FigureThis building1Sasoon24 units · 1.8 miaccepted 2025935 Lafayette34 units · 0.6 miaccepted 2025
Common ChargesPer Square Foot / Month$0.80Above peers$0.52$0.74
Average Offering PricePer Apartment$787,500Lowest$991,250$1.06M
Average PricePer Square Foot$851Below peers$971$1,039
Property TaxesPer Square Foot / Month$0.35Lowest$0.70$0.46
Average Unit SizeSquare Feet925 SFSmaller1,021 SF1,022 SF

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Unit mix, closings, budgets, finishes and the team, against Sasoon and 935 Lafayette, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A4 of 4
Closing prices vs. Schedule A4 homes: $3,444,713 at closing against $3,150,000 in Schedule A (p. 34)+9.4%
Average closing price4 homes, on their Schedule A square feet$931 / SF
Closingsfirst and latest recordedFeb 3, 2025 – May 20, 2025

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 2025: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 4 closings
HomeRecordedClosing priceSchedule ADifference
3Feb 3, 2025$865,513$850,000 p. 34+1.8%
2Apr 10, 2025$712,775$700,000 p. 34+1.8%
4Apr 29, 2025$916,425$900,000 p. 34+1.8%
1May 20, 2025$950,000$700,000 p. 34+35.7%

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Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
564 Willoughby Realty LLC
Principals
Phillip Miller
Tax estimate
RE Tax ServicesPrepared the first-year real estate tax projection
Construction lender
The Federal Savings Bank

From our research: Do NYC Developers Rehire the Same Firms?

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